My Funded Futures Funded Account Information

My Funded Futures funded account is where you want to ultimately end up. Learn more below about all things related to the My Funded Futures funded accounts.

Note that I do my best to keep every page up to date, but sometimes firms update their rules, policies and procedures. Be sure to visit the My Funded Futures faqs for the latest information.

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Overview of My Funded Future Payout and Withdrawal Policy

Explanation of Funded Account: My Funded Futures’ simulated funded account is a unique opportunity that provides you with access to simulated capital, allowing you to trade real markets without risking your own money. To fully comprehend how to plan your payouts and navigate the account’s specifics, MFFU recommend reviewing their detailed Payout Policy FAQ and Overview. This comprehensive resource will guide you through the process, ensuring you have a clear understanding of how the funded account operates.

Managing Your Trading with Funded Account: Managing your trades within a funded account is essential to maintain consistency and discipline. At MFFU, they encourage traders to adhere to their regular trading style while also following the rules outlined in the funded agreement. Once your account review is successfully completed, and you’re approved for a funded account, you’ll be provided with the terms and conditions. It’s also important to stay consistent with your risk management approach, avoiding drastic shifts such as going from one contract per trade to risking your entire account. However, reasonable adjustments based on your strategy and market conditions are allowed. For instance, you can adapt your risk per trade, such as using one contract for lower probability setups and three contracts for higher probability opportunities.

My Funded Futures requires one trade a week to keep the account active – if you are unable to meet this requirement due to vacation or other circumstances let them know and they can work it out

FAQ for Funded Accounts:

Q: Can I reset a funded account?

A: Unfortunately, funded accounts cannot be reset.

Note on this – as of September 2024 – you now CAN reset your funded Starter account. The fees are much more than the resets on evaluations.

Q: How many funded accounts can I have at once?

A: You can have a total of 3 simulated funded accounts and 1 live funded account concurrently.

Q: How do I get a live funded account?

A: To qualify for a live funded account, continue trading as you do with your simulated funded account. If you meet the criteria for a live funded account, MFFU will reach out to you.

Q: How often can I withdraw?

A: You can initiate a withdrawal 14 days after the first trade on the funded account. Subsequently, you can make withdrawals every 14 days from your last withdrawal date.

Q: I passed my account, but I haven’t received any notice. What should I do?

A: If you have successfully passed your funded account evaluation and haven’t received any notifications within a period exceeding 2 business days (Monday to Friday), please open a support ticket on the My Funded Futures website. The support team will be glad to assist you in addressing any concerns or inquiries.

These FAQs should provide traders with essential information about funded accounts and the associated processes. If you have additional questions or need further clarification, please don’t hesitate to reach out to MFFU support team or visit their website for comprehensive guidance.

Managing Your My Funded Futures Funded Account

Daily Management Tips: Effective daily management is crucial for consistent success. Consider implementing a 1-2 loss or win limit per day to maintain discipline. This helps you avoid overtrading or chasing losses. After each trading session, journal your trades while the thoughts are fresh. Reflecting on your decisions, both successful and less so, can be a valuable learning experience. Additionally, remain mindful of market conditions and take breaks when needed to stay focused and avoid emotional trading.

Ensuring Account Longevity: To ensure the longevity of your funded account, it’s essential to plan your withdrawals thoughtfully. While it’s tempting to take out all your profits, consider giving yourself a reasonable payout while leaving a buffer to manage fluctuations. In addition to the buffer zone, aim to scale up your account gradually, taking on more risk only when your balance allows. By managing withdrawals and your risk levels smartly, you can protect your account’s longevity and maintain financial stability.

Utilizing Account Features: Make the most of the account features at your disposal. The dashboard is a valuable tool for analyzing your trades. Review your performance, assess your profitability, and identify trends in your trading behavior. Knowing which days you perform best can help you make informed decisions about your trading schedule. Additionally, explore other features provided by the platform, such as order types and risk management tools, if supported by your platform. Staying well-informed and utilizing all available resources is key to making the most of your funded account and maximizing your trading potential.

New Trading Policy At My Funded Futures

Scope of the Policy

Applicability: Exclusively for Sim Funded Traders.

Non-Applicability: Does not apply during evaluations.

Prohibited News Trading Activities

Engage in your trading activities mindfully, especially during news releases. The following activities are strictly prohibited:

Utilizing strategies that exploit immediate news bursts, such as straddles or strangles.
Masking news trades as standard strategies.

These prohibitions are in effect for all news releases.

Standard Trading Protocols

Maintain the integrity of your trading by:

Sticking to your regular trading system during news intervals.
Initiating trades based on standard entry rules.
Ensuring no open positions or orders are active in the order book 2 minutes before and after any data release.

These protocols apply to all news releases.

Tier 1 Data: Special Considerations

Ensure utmost caution by adhering to the following during Tier 1 Data Releases:

No positions or orders (including limit orders) can be open 2 minutes before and after the release.

Tier 1 News Includes:

For All Traders: FOMC Meetings, FOMC Minutes, Employment Report, CPI

For Energy Traders: EIA

For Agricultural Traders: Agricultural Reports

Trading During Other News Releases

While the Prohibited News Trading Activities and Standard Trading Protocols apply, you may trade through other news releases if it aligns with your regular trading strategy. However, be mindful that data issues or disruptions with Rithmic/Tradovate can occur during news events, and MFFU is not liable for any issues that arise should you choose to trade during these times.

A Firm Stance for Fair Trading

This policy is steadfast and implemented to shield both their traders and the firm. As News Trading is not simulated 1:1 with live markets, it is not allowed. Your understanding and adherence to this policy contribute to a fair and stable trading environment for all.

Moving From Evaluation to Funded Account with My Funded Futures

The Transition Process: Transitioning from the evaluation phase to a funded account is an exciting step in your trading journey. It begins with reaching your profit target during the evaluation phase. Once your end-of-day balance reflects that you’ve passed, you’ll receive an email confirming your success. Your account will then undergo a brief review (typically within 1-3 business days), and you’ll be notified of the results via email.

What Changes and What Remains: With your new funded account, you’ll notice some changes and some things that remain the same. Your funded account will have ‘SIM’ in the account name, but you’ll still use the same login credentials as before. Your maximum drawdown still will lock at the initial balance + 100$ after the drawdown % + $100 has been reached. Now, you’ll need to consider your strategy for withdrawing profits, taking into account the buffer zone and payout policy, which can be found in the payout policy overview on the Intercom Help Desk article. It’s important to understand these changes to make the most of your funded account.

Managing Your New Account: Managing your funded account is a crucial part of your trading success. The dashboard is your go-to tool, providing a comprehensive view of your analytics once the end-of-day data is updated. You can keep track of your progress in your funded account, ensuring you’re on the right path to meet your trading goals. Additionally, you can monitor your remaining drawdown through your trading platform, which empowers you to stay in control of your trading activities and risk management.

This transition marks a significant step toward achieving your trading aspirations, and effectively managing your new funded account is the key to long-term success in the world of trading.

Consistency in Sim-Funded Accounts

Expert accounts at MFFU offer traders an unprecedented level of freedom to craft and implement their unique trading strategies. This flexibility empowers traders to adapt to changing market conditions and exercise creativity in their approaches. However, with great freedom comes great responsibility. In this article, MFFU delve into the essence of expert accounts, the potential pitfalls of misusing this freedom, and the guiding principles of consistency that underpin success.

Navigating the Perils of Misused Freedom

While Expert accounts provide traders with the latitude to explore their trading style, it’s essential to recognize that this autonomy does not equate to unchecked or careless trading behavior. The misuse of this freedom can lead to excessive risk-taking and other undesirable trading practices. To navigate the intricacies of Expert accounts effectively, traders should heed the following guiding principles:

Employ a Consistent Trading Plan: Develop and adhere to a consistent trading plan encompassing position sizing, stop-loss placement, and profit-taking strategies.
Prioritize Effective Risk Management: Make risk management a top priority to safeguard your capital and mitigate potential losses effectively.
Steer Clear of High-Risk Strategies: Avoid high-risk, high-reward strategies that may expose your account to substantial drawdowns.
Maintain a Long-Term Perspective: Keep your focus on long-term account growth rather than seeking quick gains.

Leveraging Consistency for Success

Consistency serves as the cornerstone for achieving sustainable success on Expert accounts. While there are no strict rules dictating behavior, traders should view their freedom as an opportunity to implement a well-structured trading strategy. By adhering to a consistent approach, traders can unlock numerous benefits, including:

Enhanced Risk Control: Consistency bolsters risk management practices, protecting your capital from potential threats.
A Resilient Trading Portfolio: Consistency leads to the development of a robust and resilient trading portfolio capable of withstanding diverse market conditions.
Trust and Reliability: Consistency fosters trust and reliability in your trading activities, benefiting both your trading strategy and your relationship with MFFU.

The Building Blocks of Consistent Trading

At MFFU, they firmly believe that consistent, disciplined trading is the bedrock of long-term success. This consistency should manifest in various aspects of your trading strategy:

Uniform Position Sizing, Stops, and Targets: A consistent trading plan entails uniformity in position sizes, clear stop-loss and take-profit levels that align with your strategy, and well-defined targets for each trade.
Avoidance of Maximum Contract Sizes: While MFFU offer flexibility in choosing contract sizes, resist the urge to employ maximum or oversized contract sizes in every trade.
No Flipping Contracts for Activity’s Sake: Discouraging frequent contract flipping merely for the sake of showing trading activity is integral to maintaining a consistent trading approach.
Consistency in Trading Sizes: Maintain uniform trading sizes across your portfolio to aid risk management and ensure prudent capital allocation.
Steering Clear of Dollar-Cost Averaging and High-Frequency Trading: Unless these strategies align with your goals, focus on an approach that matches your risk tolerance and trading style.

Transparency and Accountability

Transparency and accountability are foundational principles at MFFU. They establish clear expectations for their traders and entrust them to uphold these principles. Nevertheless, traders should be aware that violations of their Consistent Trading Policy may result in consequences.

Consequences for Violations

Traders should understand that breaches of the Consistent Trading Policy could lead to various actions, including:

Immediate Account Restrictions: In cases of inconsistencies in your trading behavior, they may impose account restrictions to prevent further deviations.
Penalties: Depending on the severity and recurrence of violations, traders may incur penalties that could impact their trading capital.
Account Termination: For repeated or severe violations, MFFU retains the right to terminate the trader’s account.

While these measures are unwelcome, they are essential to uphold fairness across their trading community and ensure its long-term sustainability.

Striking the Right Balance with Freedom

Expert accounts at MFFU grant traders the unique autonomy to shape their trading journey. However, this freedom must be exercised responsibly, grounded in consistency. By adopting a balanced approach that emphasizes risk management and long-term sustainability, traders on Expert accounts can achieve remarkable success.

Microscalping And Why It’s Important To Understand

Microscalping is a trading strategy that involves making a large number of trades within a very short period, aiming for minimal profits. While scalping, in general, is an accepted strategy in many trading environments, microscalping can often be problematic, particularly in simulated or prop trading firms. This article will delve into what microscalping is, how it differs from regular scalping, and provide examples to illustrate the concept.

What is Microscalping?

Microscalping is an aggressive form of scalping where traders execute trades that last only a few seconds and aim for tiny profit margins, often just a few ticks or points. The goal is to accumulate small gains over many trades, which can add up to significant profits if done correctly. However, this strategy can also lead to significant losses and can be problematic in certain trading environments due to its dependency on perfect market conditions and low slippage.

Key Characteristics of Microscalping:

Short Trade Duration: Trades are typically held for less than 15 seconds.
Minimal Profit Targets: Aiming for profit margins of less than 5 points or just a few ticks.
High Trade Frequency: Executing a large number of trades within a short timeframe.
Tight Stops and Limits: Using very tight stop-loss and take-profit orders.

Microscalping vs. Regular Scalping

While both microscalping and regular scalping aim to profit from small price movements, they differ in their execution and risk profiles:

Regular Scalping: Involves holding trades for a slightly longer period, typically a few minutes, and aiming for larger profit margins, such as 5-10 points.
Microscalping: Trades last only a few seconds and target very small profits, often less than 5 points. This strategy relies heavily on low slippage and perfect market conditions, making it less reliable in real-world trading scenarios.

Why Microscalping Can Be Problematic

Market Conditions: Microscalping works best in low volatility and highly liquid markets, which are not always available.
Slippage: The strategy’s success heavily depends on minimal slippage, which is not guaranteed, especially in live trading environments.
Order Execution: In a live environment, order execution may not be as quick and efficient as in simulated environments, leading to losses.
Sustainability: While it can be profitable in the short term, microscalping often leads to inconsistent results and can quickly burn through trading accounts.

Examples of Microscalping Trades

Example 1: Minimal Profit Target

Buy at: 18252.50
Sell at: 18253.00
Duration: 12 seconds
Profit: $10.00 (0.5 point difference)
Description: This trade was executed and closed within 12 seconds, targeting a minimal profit margin of only 0.5 points.

Example 2: Short Duration

Buy at: 18320.00
Sell at: 18320.50
Duration: 8 seconds
Profit: $10.00 (0.5 point difference)
Description: This trade lasted just 8 seconds, achieving a small profit of 0.5 points. The high frequency and low target highlight the characteristics of microscalping.

Example 3: High Frequency

Buy at: 18305.50
Sell at: 18306.00
Duration: 10 seconds
Profit: $10.00 (0.5 point difference)
Description: Another example of a trade executed and closed in just 10 seconds, aiming for a tiny profit margin.

Example 4: Tight Stops and Limits

Buy at: 18366.25
Sell at: 18367.25
Duration: 42 seconds
Profit: $20.00 (1 point difference)
Description: This trade, held for 42 seconds, targeted a profit of just 1 point. The use of tight stop-loss and take-profit limits is typical of microscalping strategies.

Example 5: Combination of Short Duration and Minimal Profit

Buy at: 18296.00
Sell at: 18296.75
Duration: 31 seconds
Profit: $15.00 (0.75 point difference)
Description: Held for 31 seconds and targeting a profit of less than 1 point, this trade exemplifies the quick turnaround and small gains of microscalping.

Example 6: Pattern Recognition in Microscalping

Buy at: 18308.50
Sell at: 18310.00
Duration: 48 seconds
Profit: $30.00 (1.5 point difference)
Description: Executed and closed within 48 seconds, aiming for a small profit of 1.5 points, this trade fits the microscalping pattern of high frequency and minimal gains.

Example 7: Repeated Short-Term Trades

Buy at: 18307.50
Sell at: 18308.50
Duration: 2 minutes 6 seconds
Profit: $20.00 (1 point difference)
Description: Although slightly longer in duration, this trade still aims for a very small profit margin, indicative of the microscalping strategy.

Example 8: Minimal Gains in High-Frequency Trading

Buy at: 18284.50
Sell at: 18285.50
Duration: 2 minutes 6 seconds
Profit: $20.00 (1 point difference)
Description: Similar to the previous examples, this trade targets minimal gains over a short duration.

Conclusion

Microscalping is a high-frequency trading strategy that aims for minimal profits over a very short period. While it can be effective in certain market conditions, it also comes with significant risks and challenges, particularly in live trading environments where slippage and order execution can impact results. Traders considering this strategy should be aware of its limitations and ensure it aligns with their overall trading goals and risk management strategies.

Understanding the nuances of microscalping is crucial for traders, especially those in simulated or prop trading environments, where such strategies may be restricted to ensure long-term profitability and sustainability.

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Risk Disclosure:

Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure:

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.

In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

You can read more here: Risk Disclosure

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The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.

Additional Disclosure:

The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.